Thrivent Financial for Lutherans Decreases Stake in Quanex Building Products Co. (NYSE:NX)

Thrivent Financial for Lutherans reduced its holdings in Quanex Building Products Co. (NYSE:NX) by 4.3% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 27,488 shares of the construction company’s stock after selling 1,230 shares during the quarter. Thrivent Financial for Lutherans owned about 0.08% of Quanex Building Products worth $760,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Quanex Building Products by 0.8% in the fourth quarter. Vanguard Group Inc. now owns 3,714,516 shares of the construction company’s stock worth $113,553,000 after purchasing an additional 30,198 shares during the last quarter. Pacer Advisors Inc. increased its position in Quanex Building Products by 14.6% during the second quarter. Pacer Advisors Inc. now owns 1,295,125 shares of the construction company’s stock valued at $35,810,000 after acquiring an additional 165,121 shares during the last quarter. Renaissance Technologies LLC increased its position in Quanex Building Products by 0.3% during the second quarter. Renaissance Technologies LLC now owns 1,159,407 shares of the construction company’s stock valued at $32,058,000 after acquiring an additional 3,400 shares during the last quarter. American Century Companies Inc. increased its position in Quanex Building Products by 13.5% during the second quarter. American Century Companies Inc. now owns 807,464 shares of the construction company’s stock valued at $22,326,000 after acquiring an additional 96,095 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its position in Quanex Building Products by 0.9% during the second quarter. Bank of New York Mellon Corp now owns 349,870 shares of the construction company’s stock valued at $9,674,000 after acquiring an additional 3,283 shares during the last quarter. 97.48% of the stock is currently owned by institutional investors.

Quanex Building Products Stock Performance

NYSE NX opened at $27.70 on Tuesday. The stock has a 50-day simple moving average of $27.82 and a two-hundred day simple moving average of $30.88. The firm has a market capitalization of $917.23 million, a P/E ratio of 11.35, a PEG ratio of 0.90 and a beta of 1.26. Quanex Building Products Co. has a fifty-two week low of $24.85 and a fifty-two week high of $39.31. The company has a debt-to-equity ratio of 0.09, a quick ratio of 1.58 and a current ratio of 2.36.

Quanex Building Products (NYSE:NX) last announced its quarterly earnings results on Thursday, September 5th. The construction company reported $0.73 earnings per share for the quarter, beating the consensus estimate of $0.70 by $0.03. Quanex Building Products had a return on equity of 14.68% and a net margin of 6.88%. The firm had revenue of $280.35 million during the quarter, compared to analyst estimates of $278.00 million. During the same quarter in the previous year, the business earned $0.97 EPS. On average, equities analysts forecast that Quanex Building Products Co. will post 2.15 earnings per share for the current year.

Quanex Building Products Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Monday, September 30th. Investors of record on Monday, September 16th were issued a $0.08 dividend. This represents a $0.32 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend was Monday, September 16th. Quanex Building Products’s payout ratio is 13.11%.

Wall Street Analyst Weigh In

NX has been the subject of several recent research reports. Benchmark reaffirmed a “buy” rating and issued a $38.00 price objective on shares of Quanex Building Products in a research note on Wednesday, September 11th. StockNews.com lowered Quanex Building Products from a “buy” rating to a “hold” rating in a research note on Tuesday, September 10th.

Quanex Building Products Profile

Quanex Building Products Corporation, together with its subsidiaries, provides components for the fenestration industry in the United States, rest of Europe, Canada, Asia, the United Kingdom, and internationally. The company operates through three segments: North American Fenestration, European Fenestration, and North American Cabinet Components.